Leugers Group - Brokered by eXp Realty

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"To raise the bar in our society by rendering life-changing high value service that saves the people we serve time, money and frustration."

Thursday, September 26, 2019

The Latest News and Numbers From Our Lee County Market

As we look at the latest statistics from our Lee County market, we see that home values are increasing. 

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For your latest Lee County market snapshot, let’s look at some key statistics from last July and compare them to July 2019.

First, closed sales rose 8.2% and the median sale price rose 2%, which means if you list your home this year, you’ll likely earn a better price than you would’ve last year. This also means if you’re thinking of buying a home, now’s the time to start shopping.

Furthermore, active listings rose 1.8%, which means buyers have more options to choose from. This might also explain why the median time to contract for homes rose 10.6% from 66 days to 73 days. This increase also allows buyers more time to make a decision.

Now, let’s do a city-by-city breakdown:

  • In Sanibel and Captiva, homes sales increased 135.7% 
  • In Bonita Springs, homes sales rose 31.7%
  • In Cape Coral, home sales rose 10.8%
  • In Fort Myers, home sales rose 7%

Obviously, this means now’s the time to buy if you live in any of these areas or you’re looking to move there. Traditionally, the Florida real estate market experiences a bit of a slowdown during the summer (as opposed to the winter, when activity ramps up due to the increase in seasonal buyers). However, we haven’t seen a slowdown this year. In fact, our business has actually increased compared to last year.

In short, the market is hot—especially for condos and townhomes. Sales for these types of homes rose 17.2% year over year, and prices rose 4.4%. If you’re a condo or townhome seller, now’s definitely the time to list it if you want to get top dollar. The season is changing, and we’ll soon see more out-of-state buyers entering our market to escape those cold, snowy winters.

If you’re shopping for a condo or townhome, now is still a great time to buy because there’s still a sizeable amount of inventory available. However, it’s taking buyers longer to get these types of homes under contract.

If you have any more questions about our Lee County market or have any other real estate needs, don’t hesitate to reach out to our team. We’d love to help you.